Fox Run Management L.L.C. purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,874 shares of the company's stock, valued at approximately $482,000.
A number of other large investors also recently bought and sold shares of PECO. State Street Corp lifted its position in shares of Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company's stock worth $267,289,000 after purchasing an additional 18,429 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company's stock valued at $120,347,000 after buying an additional 19,205 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Phillips Edison & Company, Inc. by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after buying an additional 51,186 shares during the period. Duff & Phelps Investment Management Co. boosted its position in Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company's stock valued at $55,589,000 after buying an additional 492,160 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Phillips Edison & Company, Inc. by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 969,592 shares of the company's stock worth $36,321,000 after acquiring an additional 5,033 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. stock traded up $0.27 during mid-day trading on Friday, reaching $35.96. 733,580 shares of the company were exchanged, compared to its average volume of 668,855. The firm has a market cap of $4.50 billion, a P/E ratio of 71.92, a PEG ratio of 1.70 and a beta of 0.57. The business has a fifty day moving average of $36.10 and a 200 day moving average of $37.26. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. Phillips Edison & Company, Inc.'s payout ratio is 246.00%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PECO shares. JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.83.
Read Our Latest Stock Analysis on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Profile
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Free Report)
Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.
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